Real Estate Math
A property sold for $425,000. The total commission rate is 6%. The listing office and selling office each receive 50% of the commission. How much does each office receive?
A$12,750✓ Correct
B$25,500
C$10,200
D$15,000
Explanation
Total commission = $425,000 x 6% = $25,500. Each office receives $25,500 / 2 = $12,750. To solve this, multiply the relevant values: $425,000 at 6%.. The correct answer is $12,750.. This is a common calculation on the New Mexico real estate exam.
Related New Mexico Real Estate Math Questions
- A New Mexico home was listed at $475,000 but sold for $460,000. What was the discount from list price?
- A New Mexico commercial property sells for $2,400,000 with a cap rate of 6.5%. What is the annual NOI?
- A New Mexico property owner leases 1,200 sq ft of office space at $22/sq ft/year. The annual base rent is:
- A New Mexico broker receives a 6% commission on a $480,000 sale. The broker's associate gets 40% of the office's 60% split. How much does the associate receive?
- A New Mexico commercial property generates $180,000 in annual gross revenue. Operating expenses are 45% of gross revenue. What is the NOI?
- A New Mexico property is listed at $325,000. The buyer offers 92% of list price. What is the offer amount?
- A New Mexico appraiser values a property using the cost approach: land value $80,000, building replacement cost $290,000, accrued depreciation $58,000. What is the indicated value?
- A New Mexico property generates monthly gross rent of $3,600. The annual operating expenses are $18,000. What is the annual NOI?
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →